CURRENCY REPORT
( The United States dollar! i fell to its lowest point against the Japanese yen last week, but recovered slightly on Friday after the Bank of Japan again intervened to stop the United States currency falling [through the 240 yen barrier. i On Thursday, the dollar stood at 240.15 yen after the ! Bank of Japan was believed' [to have bought at least I SSOOM — one of the biggest support operations for the [ dollar in six years. The diary kept by the! London foreign exchange department of the Bank of New South Wales said that during the week the yen lost ground after ' Japan suspended sales of shortterm Government securities to non-residents, and imposed a 50 per cent reserve requirement on the increases in non-resident accounts! from November 22. Sterling was weak, on un-i certainty over United King-' dom pay settlements; the j Bank of France, and the Fin-1 nish authorities, intervened • to keep their currencies I steady.
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Press, 28 November 1977, Page 24
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158CURRENCY REPORT Press, 28 November 1977, Page 24
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